Ping An Insurance (Group) Co Net drops 38.8% in first half

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August 15, 2009

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Ping An Insurance (Group) Co Net drops 38.8% in first half

August 15, 2009, Saturday |

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PING An Insurance (Group) Co, the world's No. 2 life insurer by market value, posted a 38.8 percent fall in first-half earnings, hit by a weak first quarter.

First-half net profit for Ping An fell to 4.35 billion yuan (US$637 billion) from 7.10 billion yuan a year earlier, the insurer said in a statement to the Shanghai Stock Exchange yesterday.

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Ping An Insurance (Group) Co Net drops 38.8% in first half

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